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Philippine rice, corn stocks down in March

Source: The Manila Times Time:2018-04-13 17:13:48

The Philippines’ total rice stock dropped by 22 percent to 1.7 million metric tons (MMT) in March from 22 MMT a year ago, and by 5.48 percent from 1.795 MMT in February, the Philippine Statistics Authority (PSA) said.

According to the PSA’s latest data, stock of the staple fell by 4.5 percent to 1.1 MMT (about 64.84 percent of total stock) in households, 11.74 percent to 553,350 MT (32.6 percent) in commercial warehouses, and 2.56 percent to 43,530 MT (41.06 percent) in National Food Authority (NFA) depositories from March 2017 figures.

Stock in households rose by 1.17 percent from February’s figure, while those in commercial warehouses and NFA depositories dipped by 14.42 percent and 29.11 percent, respectively.

Rice stock as of March 1 are good for 50 days, the PSA said.

The data came after reports that NFA no longer has rice stored in its warehouses, prompting the government to import 250,000 MT of the staple. They are expected to arrive next month.

Meanwhile, the country’s corn stock dropped by 74.19 percent to 278,340 MT in March from 1.078 MMT in 2017, and by 32.17 percent from 410,330 MT two months ago.

Stock of this crop plunged by 2.45 percent to 26 percent of total stock in households, 38.66 percent to 74 percent in commercial warehouses, and to 92.33 percent to less than 1 percent in NFA depositories.

Data on household rice and corn stocks come from the Palay and Corn Stocks Survey, which covers farming and non-farming households, while commercial ones come from registered grains businessmen through the Commercial Stocks Survey, the PSA said.

NFA stocks are monitored from their warehouses or depositories, it added.